EMTA Special Seminar: Sovereign Debt Restructuring: A Better Way Forward? (DC) - Jan. 16

EMTA SPECIAL SEMINAR: SOVEREIGN DEBT RESTRUCTURING: A BETTER WAY FORWARD?
Thursday, January 16, 2014  

Sponsored by


555 Twelfth Street, NW
Washington, D.C. 

11:45 a.m. – Registration 

12:00 noon – 2:00 p.m. Panel Discussion
Whitney Debevoise (Arnold & Porter) – Moderator
Arturo Porzecanski (American University)
Lawrence Goodman (Center for Financial Stability)
Mikis Hadjimichael (Institute of International Finance)
Elena Duggar (Moody's Investors Service)
Douglas Rediker (Peterson Institute for International Economics) 

Lunch will be provided 

After the IMF’s proposal a decade ago for a Sovereign Debt Restructuring Mechanism (SDRM), and the adoption of the IIF's Principles for Stable Capital Flows and Fair Debt Restructuring and inclusion of collective action clauses (CACs) in EM bond issues, there have been various official sector and academic concerns about the existing mechanisms for restructuring sovereign bonds, particularly in response to developments in the European sovereign debt markets and pending litigation against Argentina. 

EMTA hosted three panel discussions in New York and one in London.  On October 16, EMTA presented a panel of sovereign debt experts, who described a variety of current proposals, including those being discussed within the IMF, to reform aspects of the international architecture for restructuring sovereign bonds.  On November 5, another panel, composed of leading private sector representatives, gave their views on these proposals. On December 18 and January 13, other panels, composed of leading academics and law firm and private sector representatives (with a European emphasis for the latter panel), summarized these proposals and the private sector's reactions to them, and then articulated a sensible path forward. 

Today's panel, with a more political emphasis, will also endeavor to summarize these proposals and the private sector's reactions to them, and then articulate a sensible path forward. 

This Special Seminar is the fifth in a five-part series of EMTA panels on sovereign debt, the international architecture to restructure it and proposed reforms. 

Attendance is complimentary. 

REGISTRATION FOR THIS EVENT THROUGH THE WEBSITE IS NOW CLOSED, HOWEVER, YOU MAY CLICK HERE TO REGISTER BY EMAIL.